Correlation Between CSSC Offshore and Boeing
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By analyzing existing cross correlation between CSSC Offshore Marine and The Boeing, you can compare the effects of market volatilities on CSSC Offshore and Boeing and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in CSSC Offshore with a short position of Boeing. Check out your portfolio center. Please also check ongoing floating volatility patterns of CSSC Offshore and Boeing.
Diversification Opportunities for CSSC Offshore and Boeing
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between CSSC and Boeing is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding CSSC Offshore Marine and The Boeing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Boeing and CSSC Offshore is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on CSSC Offshore Marine are associated (or correlated) with Boeing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Boeing has no effect on the direction of CSSC Offshore i.e., CSSC Offshore and Boeing go up and down completely randomly.
Pair Corralation between CSSC Offshore and Boeing
Assuming the 90 days trading horizon CSSC Offshore Marine is expected to generate 1.05 times more return on investment than Boeing. However, CSSC Offshore is 1.05 times more volatile than The Boeing. It trades about 0.03 of its potential returns per unit of risk. The Boeing is currently generating about -0.01 per unit of risk. If you would invest 2,492 in CSSC Offshore Marine on August 16, 2025 and sell it today you would earn a total of 147.00 from holding CSSC Offshore Marine or generate 5.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 96.83% |
| Values | Daily Returns |
CSSC Offshore Marine vs. The Boeing
Performance |
| Timeline |
| CSSC Offshore Marine |
| Boeing |
CSSC Offshore and Boeing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CSSC Offshore and Boeing
The main advantage of trading using opposite CSSC Offshore and Boeing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CSSC Offshore position performs unexpectedly, Boeing can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Boeing will offset losses from the drop in Boeing's long position.| CSSC Offshore vs. Kweichow Moutai Co | CSSC Offshore vs. G bits Network Technology | CSSC Offshore vs. Contemporary Amperex Technology | CSSC Offshore vs. New China Life |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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